SEC halts trading in two cryptocurrency products

On Sunday US Securities and Exchange Commision suspended trading in two investment products that track cryptocurrencies. The Markets were in confused state with rumors that the products are Exchange Traded Funds[ETFs]

The SEC said in a statement that trading in Bitcoin Tracker One CXBTF.PQ CXBTF.PK and Ether Tracker One CETHF.PQ CETHF.PK would be halted in the United States until at least Sept. 20. As per the notice issued by SEC, it says – It appears … that there is a lack of current, consistent and accurate information. Application materials submitted to enable the offer and sale of these financial products in the United States, as well as certain trading websites, characterize them as ‘Exchange Traded Funds.

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Published by Samiksha Seth

Samiksha Seth a Storyteller with over 14 years of industry experience in BFSI, Fintech, e-commerce and currently exploring the world of Blockchain. She has worked on projects for some of the world’s leading financial companies both in India, Europe, and North America. She writes extensively on Fintech, Blockchain and other evolving technologies A Tech Enthusiast, an avid blogger, a Reiki practitioner and a curious mind. Samiksha does not hold any value in cryptocurrency or its projects.
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